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Bank Austria Creditanstalt AG Dec 03
Standard & Poors, Dec 2003
Abstract
The counterparty credit ratings on Bank Austria Creditanstalt AG (BA) as well as the issue ratings on new unguaranteed obligations incurred since Jan. 1, 2002, reflect those on its parent company, Bayerische Hypo- und Vereinsbank AG (HVB; A-/Negative/A-2), as Standard & Poor's considers BA core to HVB's strategy. Furthermore, BA's business and risk profile has improved substantially since its acquisition in 2000 as a result of asset transfers between BA and HVB, improved risk management, ongoing cost control, and the capital increase in 2003. BA is by far the largest banking group in Austria, with consolidated assets of -144 billion and domestic market shares of 20% and more at Sept. 30, 2003. BA was acquired in full by HVB in...
Companies mentioned in this report are: UniCredit Bank Austria AG,UniCredit Bank AG
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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